Pure Earth, Inc. Announces Refinancing of Casie Group's Assets With $8.0 Million Term Loan Closing

TREVOSE, Pa., Nov. 17 /PRNewswire-FirstCall/ -- Pure Earth, Inc. (PinkSheets: PREA.PK) announced today that it closed on an $8.0 million term loan with Susquehanna Bank on November 12, 2008, which was used to refinance $5.4 million of existing debt at the Casie Group, a major subsidiary of Pure Earth, Inc. The remaining $2.6 million in proceeds will be used for working capital and will provide the company with additional liquidity for both its ongoing operations and for the expansion of its refinery waste recycling and its alternative fuel manufacturing programs. The refinanced term loan improves the company's working capital position by approximately $4.6 million. The new term loan is payable over a 7-year term, maturing on November 15, 2015, and bears interest at 6.10% for the entire term of the loan.

Mark Alsentzer, President and CEO of Pure Earth, Inc. stated, "The closing of this loan signifies a major step in improving our working capital position and is expected to provide increased liquidity in an uncertain economic environment. We also believe that with the additional cash proceeds available to us, we will be able to continue working towards growing our existing businesses along with expanding into other areas, such as alternative fuel manufacturing." Brent Kopenhaver, Chairman of the Board and CFO of Pure Earth, Inc added, "The Susquehanna Bank term loan indicates the Bank's confidence in Pure Earth, Inc. in uncertain financial times and provides for previously encumbered account receivable collateral of approximately $3 million to become available for refinancing by our existing senior lender."

Pure Earth, Inc. is publicly-traded (PREA.PK) and headquartered in Trevose, PA. Pure Earth, Inc. is a diversified environmental company that specializes in delivering innovative, green solutions, including specialized waste treatment, handling of contaminated soils and conversion of waste materials into usable products. In addition to its Trevose, Pennsylvania headquarters, Pure Earth has operations in New York, New Jersey, Rhode Island and Connecticut. For more information, the web site is "www.pureearthinc.com."

Disclosures regarding forward looking statements:

Statements included in this press release that do not relate to present or historical conditions are called "forward-looking statements." Forward-looking statements may include, without limitation, statements relating to our plans, strategies, objectives, expectations and intentions. Words such as "believes," "forecasts," "intends," "possible," "estimates," "anticipates," "expects," "plans," "should," "could," "will," and similar expressions are intended to identify forward-looking statements.

Such forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results or outcomes to differ materially from those expressed in, or implied by, the forward-looking statements. Our ability to predict or project future results or the effect of events on our operating results is inherently uncertain. Many risks and uncertainties are inherent in the environmental services industry generally. Others are more specific to our operations. The occurrence of the events described, and the achievement of the expected results, depend on many events, some or all of which are predictable or within our control, but many of which are not in our control. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Important factors that could cause actual performance or results to differ materially from those expressed in or implied by, forward-looking statements include, are outlined in the Form 10 submitted on November 4, 2008.

Forward-looking statements contained herein speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company updates one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.